The subsidiary RESBUD SE signed two contracts for the implementation of works of significant value
The subsidiary RESBUD SE signed two contracts for the implementation of works of significant value
The Management Board of RESBUD SE announced the conclusion of two contracts by Elektrqrqishloqqurilish Aksiyadorlik Jamiyati based in Tashkent (Uzbekistan) - a subsidiary of RESBUD SE - for a total value of nearly USD 6 million. These are subsequent significant agreements concluded by the subsidiary RESBUD SE since its inclusion in the RESBUD SE Group.
The Management Board of RESBUD SE informs that on October 12, 2023, the subsidiary RESBUD SE - Elektrqrqishloqqurilish Aksiyadorlik Jamiyati based in Tashkent (Uzbekistan) - signed two contracts for the performance of works for a total value of approximately
USD 6 million.
"Construction of 500 kV overhead lines from the Koltsevaya substation to the Tashkient substation and from GES-20 to the Koltsevaya substation"
The first concluded contract covers the performance of works under the project titled: "Construction of 500 kV overhead lines from the Koltsevaya substation to the Tashkient substation and from GES-20 to the Koltsevaya substation."
The ordering party is the Chinese company Xian Electric Engineering CO LTD - one of the largest Chinese contractors for engineering works on transmission and distribution networks in foreign markets. So far, the Chinese contractor has implemented projects in Hong Kong, Malaysia, Thailand, the Philippines, India, Indonesia, Vietnam, Uzbekistan and Egypt.
The contract completion date is 9 months from the date of receipt of the design documentation and receipt of the advance payment. The value of the concluded contract is USD 5,038 million.
Delivery of reinforced concrete structures, 110kV transmission towers with accessories and construction of a 110kV electricity transmission line for the new Avval-Lagoh pumping station
Elektrqrqishloqqurilish Aksiyadorlik Jamiyati also concluded an agreement with China Nuclear Industry 22ND Construction CO LTD based in China.
The subject of the contract is:
- delivery of reinforced concrete structures, 110kV transmission towers with accessories
(in stage I); - construction of a 110kV electricity transmission line for the new Avval-Lagoh pumping station (in stage II).
China Nuclear Industry 22ND Construction CO LTD is a Chinese state-owned company operating in the construction industry. The main areas of activity are nuclear energy projects, construction of civil projects and import and export of goods and technologies. So far, the company has completed over 2 construction and assembly works in an area of over 2 million mXNUMX2, such as factories, power plants, housing, airports, bridges, roads and many more.
The contract completion deadline is 90 days (for the first stage) and 120 days (for the second stage), respectively, from the date the contractor receives the advance payments. The total value of the contract is PLN 960,3 thousand. USD.
- Included contracts signed by our daughter company confirm its strong position on the Uzbek market, which shows enormous growth potential. We are convinced that subsequent agreements signed since the date of Elektrqrqishloqqurilish's inclusion in the RESBUD Group bring noticeable added value to our Group and its shareholders – said Krzysztof Długosz, President of the Management Board of RESBUD SE.
About the company JSC "Elektrqrqishloqqurilish"
On September 6, 2023, RESBUD SE and its subsidiary Conpol Sp. z o. o. signed an agreement with Uralska Energetyczny-Budowlana Spółka Akcyjna (“UESK AO”) for the purchase of 100% of shares in two companies: Grid Solutions LLC and United Grid Solutions LLC, directly holding 58,41% of the shares of JSC “Elektrqrqishloqqurilish”.
JSC "Elektrqrqishloqqurilish" is a company operating in the electricity sector, engaged in the production, construction, installation and modernization of power lines (PTL) and construction of power substations in the Republic of Uzbekistan. JSC "Elektrqrqishloqqurilish" is considered one of the leading contractors of power grid facilities in Central Asia - it has performed power electrical works for such manufacturing companies as: Hyundai Engineering, Eriell, Hengyuan Group Co. Ltd. or Lukoil. The company's assets include the Namangan Iron Structures Plant, the Kuvasoy Concrete Products Plant, the Tashkent Technological Devices Production Plant and other assets.
RESBUD SE
RESBUD SE is a modern, dynamically developing European holding, operating in the construction, power and civil engineering markets as well as supplies of materials for the construction and energy sectors, listed on the Warsaw Stock Exchange since 2007. It combines a modern approach to business with 70 years of experience in the construction industry. The companies included in his investment portfolio (Conpol Sp. z o. o. Uniwersim Sp. z o. o. and JSC "Elektrqrqishloqqurilish" Aksiyadorlik jamiyati based in Tashkent - through the companies: Grid Solutions LLC and United Grid Solutions LLC), deal primarily with: construction of facilities civil engineering on road and railway routes, erection of reinforced concrete structures, construction works, civil engineering, production of bitumen and concrete, production, construction, installation and modernization of power lines and construction of energy substations, as well as supply of materials and equipment for large infrastructure investments.
Contact for media: media@resbud.pl
IR contact: ir@resbud.pl